EURUSD - Already Overbought!

[theSignalyst]

Hello Undeads Family / Fellow Traders. This is Richard, also known as theSignalyst.

EURUSD has been overall bullish trading within the rising channel marked in blue.

However, it is currently retesting the upper bound of its channel.

Moreover, the green zone is a strong resistance.

Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue trendline and green resistance.

As per my trading style:
As #EURUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr

[jacson4]

the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue trendline and green resistance.

[Couturier]

eurusd at channel top near strong resistance looking for short on confirmation long only from lower bound risk control

[Swipe]

waiting for eur/usd rejection at channel high favor short bias on signal manage risk